440 THE IRON INDUSTRY. the pocket of the taxpayers of England if a protective duty of one shilling were levied upon foreign steel, since the amounts contributed by works in operation must be much more than this. It is impossible to give the upper limit of such a tariff,, for the conditions are too various and include all the correlated conditions, down to the higher value of farm products in industrial communities. Within this range, whatever the limits may be, a protective tariff is not illogical j beyond the limit, it is uneconomical. Such are my opinions. They may not embrace absolute truth. Few things have ever been written that were beyond need of change, but it has been deemed advisable to revise the first chapter of Genesis and it is barely possible that some alteration may be necessary in the Wealth of Nations by one Adam Smith.